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In this April 3, 2012 file picture the logo of Swiss bank Credit Suisse is photographed at a building in Zurich, Switzerland.
In this April 3, 2012 file picture the logo of Swiss bank Credit Suisse is photographed at a building in Zurich, Switzerland.
(Alessandro Della Bella/AP)

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Credit Suisse needs to tighten its suspenders

Credit Suisse is used to leading the pack on cost-cutting. The Swiss bank was ahead of its peers last year when it revealed a three billion Swiss franc plan to reduce expenses. Like an over-eager surgeon, it’s at it again – opening the European banks’ results season by announcing another billion francs of cuts. But with unrelenting pressure for more capital, investment banking remains a tough business.